Menendez "Incredibly Disappointed" By Supreme Court Decision On Citizens United

Menendez "Incredibly Disappointed" By Supreme Court Decision On Citizens United

Monday, June 25, 2012

WASHINGTON - U.S. Senator Robert Menendez, author of the Shareholder Protection Act and co-sponsor of the DISCLOSE Act, which would increase transparency of corporate political spending, said today he was "incredibly disappointed" in today's ruling by conservatives on the Supreme Court to overturn a Montana law limiting corporate campaign spending.

"I am incredibly disappointed in today's decision by conservatives on the Supreme court to overturn Montana's anti-corruption law and further roll out the red carpet for unlimited, secret, big-money corporate donations to influence elections at every level," said Menendez. "It is time for Congress to pass the my Shareholder Protection Act and the DISCLOSE Act so that the American people can see who is bankrolling elections."

Earlier this year, Menendez called on the Securities Exchange Commission to use its existing authority to mandate the disclosure of corporate political spending. In the wake of the Citizens United decision, Senator Menendez authored the Shareholder Protection Act, which would not only require full disclosure of any political spending by any publicly-owned corporation, but would require shareholder authorization of this spending. Menendez also co-sponsored the DISCLOSE Act which would require all organizations and corporations to make their donors public and appear on camera to stand by their ads.